Timo Wollmershaeuser, head of economic research at Germany’s influential Ifo institute, said Thursday that the German economy is expected to stagnate this year, compared with the 0.4% growth previously projected.
Additional conclusions
“The German economy is stagnating and staggering in the doldrums, while other countries are feeling the boom.”
“The economy is expected to grow 0.9% next year, down from the 1.5% previously forecast.”
“In 2026, gross domestic product is likely to increase by 1.5%, according to the economic institute.”
German inflation is expected to fall to 2.2% this year, from 5.9% last year.
“The order situation is bad and gains in purchasing power are not leading to higher consumption but to higher savings because people are insecure.”
“Unemployment is likely to rise due to economic weakness, rising to 6.0% in 2024 from 5.7% in 2023. It will then fall to 5.8% next year and reach 5.3% in 2026.”
Source: Fx Street
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